Daily Pivots: (S1) 1.3486; (P) 1.3518; (R1) 1.3553; More…
GBP/USD is still bounded in range trading below 1.3657 and intraday bias stays neutral. Further rally remains mildly in favor. On the upside, firm break of 1.3657 will resume the rally from 1.3158 to retest 1.3867 high. However, decisive break of 1.3453 will argue that the rebound has already completed, and turn bias to the downside for retesting 1.3158 instead.
In the bigger picture, current development suggests that price actions from 1.3867 are merely a corrective pattern within the broader up trend from 1.0351 (2022 low). With 1.3008 support intact, medium term bullishness is maintained and break of 1.3867 is in favor for a later stage, towards 1.4248 key resistance (2021 high).
SOURCE LINK : https://www.actionforex.com/technical-outlook/gbpusd-outlook/640587-gbp-usd-daily-outlook-2401/
